Obsidian

I guess many traders would love to be 80-90% sure...if you are so sure It is a good idea to speed up earning process, until that 10-20% hits you:roll eyes:

yes, went long yesterday. I think end of this month, maybe sooner, depends on how fast we can pass 1.0880 and 1.0985

missed the entry level for gbp/usd... eur/usd: 1st target is 1.3430, next 1.3550

1.1028 is the next target...

Bernanke testimony is expected to start soon Ben Bernanke Debates Economic Policy with Senators | C-SPAN

What is moving the market: €/$ climbs on press report the Greek government says it is working on a final draft of a bailout deal. To be presented to political leaders for approval later today.

You are absolutely right. Thinking does not guarantee anything

Welcome! I am sure you can find various interesting ;)topics if you browse the forum

Greed and taking huge risks are proven ways to destroy your account...Some people know this fact and act accordingly (use stops or other ways to manage risk), some people just ignore it and learn the hard way... People don't use stops because they are afraid of stop hunting? hmm maybe... But there are times that even stops can't protect you...I had a friend whose account currency was eur (he believed u.s. economy will collapse soon), then he thought chf was a better choice to park his cash since the eurozone had many problems. A few weeks later SNB set chf exchange rate floor at 1.20...

I know it changes during market hours but 7.5-20 pips...not that bad for such currencies

Reserve bank of Australia (RBA) leaves cash target rate unchanged at 4.25% - Monetary policy is appropriate for the moment. - Will continue to monitor information. - Will adjust the cash rate as needed for growth and inflation.

I had 2 positions that I opened yesterday. Seems it is time to close and collect some pips;) usd/cad=-3 eur/usd=+32 now time to focus on aud/usd and gbp/usd...

Bavarian Finance Minister: Greece Won't Be Able To Avert Default As Greece continues its battle to get a second bailout package, the finance minister of the German state of Bavaria in a radio interview Monday says Greece isn't capable of carrying out necessary reforms and won't be able to avoid a default. "Personally, I don't believe anymore that an agreement is possible," Bavarian Finance Minister Markus Soeder tells Deutschlandfunk radio. "Everyone is trying, but it can't be that Germany and Europe permanently pay and pay, and ultimately the Greeks, above all the Greek government, don't change." Soeder belongs to the Christian Social Union, the sister party of Angela Merkel's Christian Democratic Union, and one of the pillars of the Chancellor's government in Berlin. A Greek insolvency could also be a chance for a new beginning for the Hellenic country, Soeder says, but added that it needs to be assured that a Greek default isn't a default of Europe. "Greece is an absolute exception," Soeder says, adding that Italy is a rich country capable to solve its own problems. Greece's political party leaders will resume talks Monday after major differences on draconian reforms as part of an international aid package remained unresolved following a marathon meeting Sunday. German Chancellor Angela Merkel at a meeting later Monday with French President Nicolas Sarkozy in Paris likely will discuss the Greek impasse. Euro-zone finance ministers may hold a meeting later this week in Brussels about Greece's debt restructuring and the second bailout program. Source: Deutschlandfunk Radio

Don't bite the hand that feeds you...

U.S. officials concerned by Israel statements on Iran threat, possible strike Israeli leaders on Thursday delivered one of the bluntest warnings to date of possible airstrikes against Iranian nuclear sites, adding to the anxiety in Western capitals that a surprise attack by Israel could spark a broader military conflict in the Middle East. Defense Minister Ehud Barak, speaking at a security forum attended by some of Israel’s top intelligence and military leaders, declared that time was running out for stopping Iran’s nuclear advance, as the country’s uranium facilities disappear into newly constructed mountain bunkers. “Whoever says ‘later’ may find that later is too late,” Barak said. He switched from Hebrew to English for the last phrase: “later is too late.” The language reflected a deepening rift between Israeli and U.S. officials over the urgency of stopping Iran’s nuclear program, which Western intelligence officials and nuclear experts say could soon put nuclear weapons within the reach of Iran’s rulers. Although accepting the gravity of the Iranian threat, U.S. officials fear being blindsided by an Israeli strike that could have widespread economic and security implications and might only delay, not end, Iran’s nuclear pursuits. In a series of private meetings with Israeli counterparts in recent weeks, Western officials have counseled patience, saying recent economic sanctions and a new European oil embargo are pummeling Iran’s economy and could soon force the country’s leaders to abandon the nuclear program. Yet Israelis are increasingly signaling that they may act unilaterally if there is no breakthrough in the coming months, according to current and former administration and intelligence officials. “The Obama administration is concerned that Israel could attack Iranian nuclear facilities this year, having given Washington little or no warning,” said Cliff Kupchan, a former State Department official who specialized in Iran policy during the Clinton administration and recently returned from meetings with Israeli officials. He said Israel “has refused to assure Washington that prior notice would be provided.” Defense Secretary Leon E. Panetta is one of several administration officials to express concern publicly that Israel is positioning itself for a surprise attack. Last month, the administration dispatched the Joint Chiefs chairman, Gen. Martin E. Dempsey, to the Israeli capital for high-level discussions about the possibility of a unilateral Israeli strike. “Israel has indicated they’re considering this, and we have indicated our concerns,” Panetta told reporters Thursday after a NATO meeting in Brussels. Panetta declined to comment on published reports that he thinks the Israelis could carry out a strike this spring, possibly as early as April. Although the Obama administration has not ruled out U.S. military action against Iran, White House officials are worried that a unilateral strike could shatter the broad international coalition assembled in the past three years to confront Iran over its nuclear program, which Iranian leaders have consistently said is for peaceful purposes. Source: Washington Post What do you think, is it possible that Israel strike Iran ? If this happens, how would this affect the markets?

The Reserve Bank of Australia is expected to cut its cash rate to 4.00% tomorrow...but what if that does not happen?

Best way to find out is to try yourself. Start today and check the result next month. I don't mean it is easy or hard. I think it is better for you to see it yourself;)

Sure we all have different trading style and system. I like to be in the market when I have high probability of winning according to my strategy. If I am uncertain, then I just leave it alone. Sure I lose time by missing opportunities, but I don't get any extra risk or stress.

EUR/USD: Basically we have gone nowhere...We are stuck between 1.3230 and 1.3030 range for last 7-8 days. Now this week we can go either way. I think we will break 1.3230 resistance and climb somewhere around 1.3340 first and then 1.3540. After that point we will move all the way down, back to 1.2600. This is just a technical guess of course. Prices will tell us what will happen next. I will be watching 1.3230 and 1.3000 levels to go long or short. GBP/USD: The pair was able to break and close above 1.5770 resistance. This is a bullish sign but I also see that bears are increasing their pressure. I expect this week's range will be 1.5941 and 1.5650. USD/CAD: I had said "I am bearish as long as we are trading below 1.0150. If the pair goes below the parity, it may increase the selling pressure, next targets are 0.9905 and 0.9740/05.". This is still valid. USD/CHF: The pair is consolidating between 0.9220 and 0.9105. I do not see any big changes in technical levels. Close above 0.9220 would indicate that it is going to try 0.9315. If it breaks 0.9080, we will probably see 0.8950/30 next.

Open orders & positions statistics

Probability of having a successful trade is not that low if you increase the time frame (and reduce the leverage)

I never thought that I have to be in the market everyday. Sometime not trading is the best trade. Markets give us plenty of opportunities, missing a couple of them wouldn't kill you...

you may want to check try/jpy

CAD Chart (Weekly CFTC Commitments of Traders Report)

CHF Chart (Weekly CFTC Commitments of Traders Report)